[Resolved]  Kotak Mahindra Bank — Account being Debited in Error

Address:

Mumbai Suburban, Maharashtra

I Vishal Mehta hold account with Kotak Mahindra Bank with Borivali Branch with CRN No. 17690562.

On[protected] I had issued 2 D.D.'s for amount 1000.00 & 12500.00 in favor of Sikkim Manipal University, D.E. payable at Udipi Branch, and D.D. was issued of Axis Bank.

On[protected] I walked up to the branch and requested D.D. for amount 12500.00 to be canceled as D.D. was issued with incorrect amount, and the funds were were credited to my account on[protected] with 12500.00/= and charge of 110.30/= was being withdrawn for cancellation of the same.

And a new D.D. was issued for amount 11,450/= on[protected], in favor of Sikkim Manipal University, D.E. payable at Udipi Branch, and D.D. was issued of Axis Bank.

Everything was fine till here, to my notice on[protected] a New Debit is being passed for 12,500/= with value date[protected] with narrative as "rvsl of correspondent dd cancellation", and on[protected], a 2-way sweep was also broken under account number xxxxxxxx 3609, and 10000.00/= was credited back to account.

The issue out here is if the account was already being debited on[protected] and credited back on[protected], being reversal then why a debit was required on[protected].

Regarding this issue I called up branch, and had a word with [censored]iz on call, and he said that the D.D. was being made from Axis Bank, and it is not possible with Kotak to reverse as it was issued from Axis Bank.

If this was the issue, were Kotak not aware of the same...??

This has lead to my 2 way sweep being broken, my account balance as of now is 15,789.78 INR instead of 18289.78 INR, and due to which again I had to make a NEFT Payment to one of my colleague which is not possible.

Over to this error from bank part, when contacted the Branch In-charge Mrudula Batwalkar, she admitted that it was error from there part, but the entries were being passed by Human at the Branch, and they are having systems in place, and due to this it cant be reversed.

Later, on disputes the bank arrange to reverse the entry of the debit of 12500.00/=, however the 2-way sweep which was broken, cant be reversed on any condition.

Over to this, I requested to either reverse the Broken 2-way sweep in your systems, or arrange to waive of all the charges for making & Cancellation of D.D.

And they reverted back stating both of them cant be done.
So I threatened to leave the Bank, and opt for some other Bank Provider, and to my notice I received below response :

Attached herewith is the a/c closure form. There is no specific procedure for the a/c closure. You will have to submit the form duly signed to the branch along with the Debit card and unused cheque leaves.

Regards, | Jayshree Kadam, | Deputy Manager | Client Relations - Privilege Banking.

This means that Bank has no respect for the customer / Consumer..??

Please revert back with any responses.

Thanks in advance.

-Vishal Mehta
e-mail : vishal.[protected]@yahoo.com
Mobile : +91-[protected] / [protected].